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$40 Billion Yen Intervention by Japan Sparks Market Jitters

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JPY
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The Japanese government spent a record 6.28 trillion yen ($40 billion) on April 30 to intervene in the foreign exchange market and stem the yen's slide.

This was the largest single-day intervention by Japan, and it was followed by two other market operations within a week, according to the Finance Ministry.

The move aimed to stabilize the currency and prevent further depreciation.

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